RDA Financial Network decreased its position in shares of Chevron Co. (NYSE:CVX – Get Rating) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,026 shares of the oil and gas company’s stock after selling 128 shares during the period. RDA Financial Network’s holdings in Chevron were worth $723,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CVX. Cantor Fitzgerald Investment Advisor L.P grew its position in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC grew its position in Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 1,476 shares in the last quarter. GQG Partners LLC grew its position in Chevron by 4.7% in the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after acquiring an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC grew its position in Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after acquiring an additional 250,840 shares in the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.
Analysts Set New Price Targets
CVX has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on Chevron from $204.00 to $199.00 and set an “overweight” rating for the company in a research report on Thursday, March 2nd. Truist Financial lifted their price target on Chevron from $169.00 to $179.00 and gave the stock a “hold” rating in a research report on Tuesday, January 31st. Morgan Stanley dropped their price target on Chevron from $197.00 to $195.00 and set an “equal weight” rating for the company in a research report on Monday, January 30th. Mizuho reissued a “neutral” rating and issued a $206.00 price objective on shares of Chevron in a research note on Friday. Finally, Raymond James decreased their price objective on shares of Chevron from $215.00 to $212.00 and set an “outperform” rating for the company in a research note on Monday, January 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus target price of $189.50.
Insider Buying and Selling
Chevron Stock Performance
Chevron stock opened at $152.34 on Friday. The company has a 50 day moving average price of $169.06 and a 200-day moving average price of $169.44. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.23 and a current ratio of 1.47. Chevron Co. has a fifty-two week low of $132.54 and a fifty-two week high of $189.68. The company has a market capitalization of $290.46 billion, a PE ratio of 8.33, a P/E/G ratio of 0.73 and a beta of 1.16.
Chevron (NYSE:CVX – Get Rating) last posted its quarterly earnings results on Friday, January 27th. The oil and gas company reported $4.09 earnings per share for the quarter, missing the consensus estimate of $4.16 by ($0.07). Chevron had a net margin of 14.40% and a return on equity of 23.52%. The company had revenue of $56.47 billion for the quarter, compared to the consensus estimate of $53.97 billion. During the same period in the prior year, the firm posted $2.56 EPS. The business’s revenue was up 17.1% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 14.73 earnings per share for the current year.
Chevron Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 16th were paid a $1.51 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.42. The ex-dividend date was Wednesday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 3.96%. Chevron’s payout ratio is 33.04%.
Chevron declared that its Board of Directors has approved a share repurchase program on Wednesday, January 25th that allows the company to repurchase $75.00 billion in shares. This repurchase authorization allows the oil and gas company to reacquire up to 21.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of the exploration, development, and production of crude oil and natural gas, the liquefaction, transportation, and regasification associated with liquefied natural gas, the transporting of crude oil by major international oil export pipelines, the processing, transporting, storage, and marketing of natural gas, and a gas-to-liquids plant.
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